diff --git a/app/models/rate.rb b/app/models/rate.rb
index f08a6ef..cc6295d 100644
--- a/app/models/rate.rb
+++ b/app/models/rate.rb
@@ -33,6 +33,8 @@ class Rate < ActiveRecord::Base
                                       date
                                      ],
                       :order => 'date_in_effect DESC')
-    nil
+    
+    return nil if rates.empty?
+    return rates[0].amount
   end
 end
diff --git a/spec/models/rate_spec.rb b/spec/models/rate_spec.rb
index cac710a..1c1aa98 100644
--- a/spec/models/rate_spec.rb
+++ b/spec/models/rate_spec.rb
@@ -156,8 +156,8 @@ describe Rate, 'for' do
   
   describe 'with a user, project, and date' do
     it 'should find all the rates for a user on the project before the date' do
-      rate1 = mock_model(Rate)
-      rate2 = mock_model(Rate)
+      rate1 = mock_model(Rate, :amount => 50.50)
+      rate2 = mock_model(Rate, :amount => 100.25)
       rates = [rate1, rate2]
       
       Rate.should_receive(:find).with(:all, {
@@ -172,6 +172,21 @@ describe Rate, 'for' do
       
     end
 
-    it 'should return the value of the most recent rate found'
+    it 'should return the value of the most recent rate found' do
+      rate1 = mock_model(Rate, :amount => 50.50)
+      rate2 = mock_model(Rate, :amount => 100.25)
+      rates = [rate1, rate2]
+      
+      Rate.should_receive(:find).with(:all, {
+                                        :conditions => ["user_id IN (?) AND project_id IN (?) AND date_in_effect <= ?",
+                                                        @user.id,
+                                                        @project.id,
+                                                        @date
+                                                       ],
+                                        :order => 'date_in_effect DESC'
+                                      }).and_return(rates)
+      Rate.for(@user, @project, @date).should eql(rate1.amount)
+      
+    end
   end
 end